A handful of Korea’s major institutional investors, including Allianz Life, plan to invest about 96 billion won in Apple’s building in Silicon Valley. According to industry sources on March 13, the nation’s four major institutional investors, including Allianz Life, decided to invest $83 million in “410-430 North Mary Avenue” located in Sunnyvale.
They will make the investment through a real estate fund which will be created in mid-March by Koramco Fund, a specialist in operation of real estate funds. With a maturity of five years, the fund would generate an annual yield of 4.58 percent.
America’s real estate investment firm Tristar Capital acquired the building from Rockwood Capital for US$290.7 million last month.
The office building is now used 100 percent by Apple Inc. It is a complex consisting of three three-story buildings, with a total floor space of about 60,000 square meters. Built as Boeing’s office building in 1989, it was renovated during the 2008-2010 period.
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip